STAND. COM. REP. NO.  1040

 

Honolulu, Hawaii

                , 2007

 

RE:   H.B. No. 1529

      H.D. 2

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2007

State of Hawaii

 

Sir:

 

     Your Committee on Finance, to which was referred H.B. No. 1529, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO LEGISLATIVE SCHOLARSHIP PROGRAMS AT THE UNIVERSITY OF HAWAII,"

 

begs leave to report as follows:

 

     The purpose of this bill is to open the door to higher education opportunity by establishing two scholarship programs:

 

(1)  The Senator Hiram L. Fong Scholarship Program; and

 

(2)  The Senator Oren E. Long Scholarship Program.

 

     The programs will be administered by the University of Hawaii (UH) with proceeds from endowment trusts that will receive initial funding by general fund appropriations.

 

     Several concerned individuals supported this bill.  UH and the Department of Education supported the intent of this measure.  The Department of the Attorney General submitted comments.

 

     Your Committee has amended this bill by:

 

(1)  Clarifying that the Legislature finds this Act to be in the public's best interest;

 

(2)  Deleting specific dollar amounts from the appropriation;

 

(3)  Changing the effective date to July 1, 2020, to promote further discussion; and

 

(4)  Making technical, nonsubstantive changes for clarity, consistency, and style.

 

     As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1529, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 1529, H.D. 2.

 

Respectfully submitted on behalf of the members of the Committee on Finance,

 

 

 

 

____________________________

MARCUS R. OSHIRO, Chair